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Beware the Ides of June

|Includes: DIA, QQQ, SPDR S&P 500 Trust ETF (SPY)

Based on long-term averages, June has not been a good month for stock market returns.  Only September has been worse and the two months are the only ones that have negative averages.  The following graph from shows the average returns by month for the past 60 years.

October, famous for big market crashes, is actually the strongest of the six months that have below average returns.  Also of note, right in the middle of the "sell in May and go away period," July is actually the fourth best month of the year.  I offer the thought that this is the month for second quarter earnings reports which could be the reason for the outperformance.